Description:

BANKRUPTCY AUCTION - This is your opportunity to take advantage of the exceptional upside potential of these underserved, owner-operated producing oil and gas leases. Well work has been initiated to restore wells, with current oil sales of 17+/- BOPD from 16 wells. 3 additional wells are working or scheduled for operations, anticipating another 3 - 5 BOPD. Many more wells need attention. There are more than 2000 acres of leasehold held to all depths. Properties are currently operated from Beggs, Oklahoma.
The key property (Bradley Package) is a mature waterflood unit, with minimal lift capacity, and significant opportunity for upgrade. This reservoir needs to be investigated for chemical flooding opportunity. Another grouping (South Beggs Package) within this sale is connected to and serviced by its own SWD facility.
Also being offered for sale are approximately 20 pump jacks, oil pipe and a single-pole well pulling unit, fully equipped and capable of operating to depths of 3600 feet. It is currently at work on one of the package wells and will work contracts for other operators, once all of the current work is completed.

Lease List & Locations:

BRADLEY PACKAGE
BRADLEY  140 acres- Unit Tracts 2 through 8 of Northwest Quarter (NW/4) of Section 26 and East Half (E/2) of Section 27 and Northeast Quarter (NE/4) of Section 34, Township 14 North, Range 10 East, Creek County, Oklahoma
HARMON #1  40 acres- Northeast Quarter of the Southwest Quarter (NE/4 SW/4) of Section 27, Township 14 North, Range 10 East, Creek County, Oklahoma
WRIGHT # 1, 2, 3  320 acres- South Half (S/2) of Section 34, Township 14 North, Range 10 East, Creek County, Oklahoma

SOUTH BEGGS PACKAGE
BEAR  120 acres- West Half of the Southeast Quarter (W/2 SE/4) and the Southeast Quarter of the Southeast Quarter (SE/4 SE/4) of Section 2, Township 14 North, Range 11 East, Okmulgee County, Oklahoma
BERNIE/BARB  160 acres- Northeast Quarter (NE/4) of Section 11, Township 14 North, Range 11 East, Okmulgee County, Oklahoma
DELAINE  20 acres- North Half of the Southeast Quarter of the Northwest Quarter (N/2 SE/4 NW/4) and the West Half of the Northwest Quarter of the Northeast Quarter (W/2 NW/4 NE/4) of Section 11, Township 14 North, Range 11 East, Okmulgee County, Oklahoma
EAGLE  40 acres- Northwest Quarter of the Northwest Quarter of the Northwest Quarter (NW/4 NW/4 NW/4) of Section 12, Township 14 North, Range 11 East, Okmulgee County, Oklahoma
HARRIS  40 acres- (Salt Water Disposal Well) Southeast Quarter of the Southeast Quarter (SE/4 SE/4) of Section 3, Township 14 North, Range 11 East, Okmulgee County, Oklahoma 
SCHERRY  80 acres- East Half of the Northeast Quarter (E/2 NE/4) of Section 11, Township 14 North, Range 11 East, Okmulgee County, Oklahoma

THOMPSON PACKAGE
TATE THOMPSON #1A, 2A, 3A, 4A  160 acres- Southeast Quarter (SE/4) of Section 28, Township 15 North, Range 15 East, Muskogee County, Oklahoma

WAGONER COUNTY PACKAGE
WAY  80 acres - South Half of the Southeast Quarter (S/2 SE/4) of Section 18, Township 16 North, Range 15 East, Wagoner County, Oklahoma

HENRY PACKAGE 
EAST HENRY  160 acres- Southwest Quarter (SW/4) of Section 13, Township 16 North, Range 12 East, Tulsa County, Oklahoma
WALKER HENRY  40 acres- Northeast Quarter of the Southeast Quarter (NE/4 SE/4) of Section 14, Township 16 North, Range 12 East, Tulsa County, Oklahoma
WISER HENRY  40 acres- Northwest Quarter of the Southeast Quarter (NW/4 SE/4) of Section 14, Township 16 North, Range 12 East, Tulsa County, Oklahoma

ADDITIONAL LEASES
BETHEL  160 acres- Southwest Quarter (SW/4) of Section 35, Township 16 North, Range 14 East, Okmulgee County, Oklahoma
FRED  280 acres- Northeast Quarter (NE/4) and the East Half of the Northwest Quarter (E/2 NW/4) and the Southwest Quarter of the Northwest Quarter (SW/4 NW/4) and the Northwest Quarter of the Southeast Quarter (NW/4 SE/4) of Section 15, Township 15 North, Range 14 East, Okmulgee County, Oklahoma
FRED S. WATSON  37 acres- East Half (E/2) of the South 74 acres of the Northwest Quarter (NW/4) of Section 24, Township 15 North, Range 14 East, Okmulgee County, Oklahoma
P.J. JONES  40 acres- Northwest Quarter of the Southwest Quarter (NW/4 SW/4) of Section 6, Township 14 North, Range 12 East, Okmulgee County, Oklahoma
ROSENER  40 acres- Southeast Quarter of the Northwest Quarter (SE/4 NW/4) of Section 24, Township 15 North, Range 11 East, Okmulgee County, Oklahoma

Stephen Rowe Oil Properties, LLC, (09-81218); Bobby Rowe Energy, Inc. (09-81217); Rowe Oil Properties Power Well SVC, LLC (09-81219) -  Chapter 11 US Bankruptcy Court, Eastern District of Oklahoma

Terms of Sale:

All sales are subject to final, customary approval by the US Bankruptcy Court. Assets may be added or removed prior to sale. 10% Buyers Premium. 10% down payment per offering with $10,000 minimum. Buyer responsible for applicable sales tax. Complete terms and conditions provided in the Court approved Bidding Procedures.

DEPOSIT REQUIREMENTS FOR AUCTION DAY: As provided for in the Bidding Procedures, you are required to have a minimum deposit in Certified Funds or Wired Funds at the auction. If you are bringing Certified Funds, you should have the check made payable to yourself and if you are the high bidder, you will be required to endorse the check to the Trust Account required by the Bankruptcy Court. If you would prefer to wire funds prior to the auction, please contact our office. The minimum deposit required to bid is $10,000 for each lease. However, there is an exception being made for the Additional Leases Package. The minimum required deposit per package is as follows:

* Bradley Package - $30,000
* South Beggs Package - $60,000
* Thompson Package - $10,000
* Way Package - $10,000
* Henry Package - $30,000
* Additional Leases Package - $10,000

If you are interested in bidding on all of the Packages, you will need to have $150,000 at the auction. If there is a situation where your minimum deposit is less than 10% of the sales price, you can make up the difference between $10,000 and the 10% deposit with a business check, personal check or wired funds. Otherwise, the minimum deposit is suffice.

SALE OF THE PULLING UNIT - If you are the high bidder on the Pulling Unit, you will be required to post a 10% deposit at the auction and that sale is subject to Lender and Court approval at the March 10, 2010 confirmation hearing.

SALE OF THE REMAINING SURPLUS EQUIPMENT - Payment will be due in full at the auction with either a certified check, personal check, company check or wired funds. Once your payment clears, you will have 15 to 20 days to coordinate removal. You will receive your Bill of Sale after the auction. If you are exempt from paying Sales Tax, please bring your exemption number and exemption letter.

AUCTION DAY REGISTRATION - The Auction will be held in the Courtroom on the 2nd Floor of the US Bankruptcy Court in Oklmulgee, OK. The auction starts at 10:00AM. We will start registration at 9:00AM. We ask that you get their early. To register, you will need to have the required minimum deposits with you.

To receive the Lease Information Package, complete the Confidentiality and Non-Reliance Agreement in the documents file above, sign and fax it to 918-895-7076. You will receive the complete information package on or before January 12, 2010. For more information, call 877-895-7077.